Another insurance scam and another man in jail! This time the man was involved with a New Jersey insurance company that resulted in $20 million being stolen.
The New Jersey company was Smith Gatta Gelok that was supposedly in place to help businesses with purchasing commercial insurance. Gavin Gatta, the owner of the company, admitted that he set up fake applications for businesses that didn’t actually need financing.
Gatta was living large riding around in Ferraris and Aston Martin sports cars but it all came to an end when he pleaded guilty to wire fraud in front of a judge. He will spend 4 years in prison and pay up to $22 million in restitution.
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